TacticScaleWhat Sungrow Power Supply (阳光电源) Does & How It Makes Money (300274.SZ)
Updated October 2026 · reflects Sungrow Power Supply's latest reported financials
Chinese maker of solar inverters and battery energy storage systems. It mainly earns money by manufacturing and selling power conversion and energy storage equipment to solar, wind and grid customers, plus related services.
How Sungrow Power Supply makes money
It mainly earns money by manufacturing and selling power conversion and energy storage equipment to solar, wind and grid customers, plus related services. It also earns revenue from developing and investing in new energy power projects and from smart energy operation services.
What Sungrow Power Supply does
Sungrow Power Supply, founded in 1997 and headquartered in Hefei, China, develops, manufactures, sells and services equipment for new energy power. Its core business is photovoltaic inverters, which convert solar panel output into grid-ready electricity, and energy storage systems. It also makes wind power converters and transmission products. Beyond these core lines, Sungrow supplies electric control and power systems for new energy vehicles, charging equipment, floating PV systems and hydrogen energy equipment. It also offers smart energy operation services and invests in and develops new energy projects. It sells in Mainland China and in markets across Europe, the Americas, the Middle East, Africa and Asia-Pacific.
Products & services
- Photovoltaic (solar) inverters
- Energy storage systems
- Wind power converters
- EV electric control and power supply systems
- EV charging equipment
- Floating PV systems and hydrogen energy equipment
阳光电源是做什么的？
阳光电源成立于1997年，总部位于安徽合肥，从事新能源电源设备的研发、制造、销售和服务。核心业务是光伏逆变器和储能系统。光伏逆变器负责把太阳能板发出的电转换成电网可用的电力。公司还生产风电变流器及输电产品。 此外，公司提供新能源汽车电控及电源系统、充电设备、漂浮式光伏系统和氢能设备，也开展智慧能源运维服务和新能源电站投资开发。业务覆盖中国内地、港澳台，以及欧洲、美洲、中东、非洲和亚太等市场。
What is Sungrow Power Supply worth?
On an owner-earnings DCF, Sungrow Power Supply's most-likely value is about ¥221 versus a recent price near ¥82 (63% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥96) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $82 is below even the no-growth floor ($96); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -1.7%/yr. A bargain only if that pessimism is overdone.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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